In May 2026, the annual inflation in the Eurozone rose to 3.2%, up from the April figure of 3%. This data is provided by the preliminary estimate from Eurostat.
This is reported by Finway
Details of Inflation Dynamics
The main driver of price growth last month was energy: inflation in this sector was 10.9% compared to 10.8% in April. Following in growth rates are services, where the figure reached 3.5% (3% in April), as well as food, alcohol, and tobacco — 2% (2.4% the previous month). The cost of non-energy industrial goods increased by 0.9% compared to 0.8% in April.
Core inflation, which excludes food and energy, rose by 0.3 percentage points to 2.5%. This exceeded analysts’ expectations and marked the highest figure in over a year.
The rise in consumer prices in the bloc has exceeded the ECB’s medium-term target of 2% for the third consecutive month.
Situation in Major European Economies
Among the largest Eurozone countries, in May 2026, annual inflation in Germany was 2.7%, in France — 2.8%, in Italy — 3.3%, and in Spain — 3.6%.
Economists predict that at the meeting on June 11, the European Central Bank may decide to raise borrowing costs, considering the persistent inflation exceeding the target level.